The north London outfit are currently having transfer problems of their own as a deal to sign on-again-off-again target Julian Draxler, but that hasn’t kept manager Arsene Wenger from keeping an eye on other targets in the meantime.

Arsenal are still desperate to add to their attacking options after failing to bring in another striker during the January transfer window and losing star attacker Theo Walcott for the remainder of the campaign through injury.

Now Wenger has set his sights on Grenier once again after an unsuccessful attempt to bring him to the Emirates over the summer.

However, recently the 23-year-old has been a target for Newcastle with manager Alan Pardew keen on adding him to his playing staff. The club also lost midfield stalwart Yohann Cabaye to Paris Saint Germain earlier this week and the club have targeted Grenier as his replacement.

The Magpies have already seen one bid for the player rejected by Lyon, and now Arsenal are hoping to use that to their advantage by making a move of their own.